IC Markets cTrader vs MT5 — Which Platform Is Right for You?

IC Markets offers both cTrader and MetaTrader 5 with the same raw spreads. But the platforms differ in commission, features, and user experience. Here is how to choose.

Quick Comparison Table

Both platforms connect to the same IC Markets liquidity pool with identical raw spreads. The key differences are commission ($1.00/lot lower on cTrader), user interface quality, and algo trading ecosystem. See our account types guide for full account details.

When to Choose cTrader

cTrader is the better choice for manual traders, scalpers, and anyone who values a modern, intuitive interface. The charting engine renders smoothly even with multiple indicators, and the Level II pricing display shows you the actual order book — giving real insight into supply and demand at each price level.

At standard pricing, cTrader is $0.50/lot cheaper than MT5 ($6.50 vs $7.00). With our commission discount, both platforms cost the same $5.50/lot — so the platform choice becomes purely about features, not cost.

cTrader's one-click trading is faster and more responsive than MT5's. The "Quick Trade" panel allows instant market entries with predefined stop loss and take profit — essential for scalping strategies where seconds matter.

For automated trading, cAlgo uses C# and the .NET framework. If you are a developer or comfortable with modern programming languages, cAlgo is more powerful and flexible than MQL5. It supports full access to market depth data, account information, and trade management via clean APIs.

When to Choose MetaTrader 5

MT5 is the better choice if you rely on Expert Advisors (EAs), custom indicators from the MQL5 marketplace, or if you are migrating from MT4 and want a familiar experience. The MQL5 ecosystem is enormous — thousands of free and paid EAs, indicators, and scripts are available, many of which have no cTrader equivalent.

If you use copy trading through MQL5 Signals, MT5 is required. While cTrader has its own copy trading system (cTrader Copy), the MQL5 signal marketplace has a larger selection of strategy providers with verified track records.

MT5 is also the standard choice for managed accounts and PAMM/MAM setups. Most fund managers and account management services operate on MetaTrader platforms. If you are having your account managed by a third party, they will almost certainly use MT5.

IC Markets offers their "Advanced Trading Tools" plugin exclusively for MT4/MT5, adding 20 extra tools including correlation matrices, session maps, and sentiment indicators. These are not available on cTrader.

Cost Comparison

With TradersFXPartner's commission discount, both cTrader and MT5 cost the same: $5.50/lot. At standard IC Markets pricing, cTrader is slightly cheaper:

Since both platforms share the same discounted commission, your choice should be based on features — not cost. cTrader offers better charting and Level II pricing; MT5 has the larger EA ecosystem. For a full comparison of costs across all brokers, see our broker cost comparison.

Our Recommendation

Choose cTrader if: you trade manually, scalp, want the lowest commissions, value modern charting and Level II pricing, or write your own algos in C#. cTrader with our commission discount at $5.50/lot is the cheapest way to trade on IC Markets.

Choose MT5 if: you use existing Expert Advisors, need access to the MQL5 marketplace, use copy trading signals, or have a managed account. MT5 with our discount at $5.50/lot is still among the cheapest in the industry.

Either way, open through TradersFXPartner's link to get the commission discount (up to 21% off) on whichever platform you choose. You can also open accounts on both platforms simultaneously and try each one.

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cTrader vs MT5 on IC Markets — FAQ